Self-build Mortgages and Insurance Explained

How much can you borrow? Do you need insurance? We find out from EBS mortgage master Brian Carey, Self Build Zone’s Kieran Dwyer, AIB Bank’s head of homes for Kildare, Laois and Offaly Alice Hynes and AIB Bank’s head of homes for Cavan, Monaghan and Louth Debbie Clarke.

Do I need a deposit?

A: Brian Carey

If you own the site, this acts as your deposit and lenders can offer up to 100 per cent of the construction costs as long as the value on completion of your home does not exceed 90 per cent for First Time Buyers (FTB) or 80 per cent for all others. This is in line with the Central Bank rules. If you are purchasing the site you can get up to a 90 per cent loan (FTB) / 80 per cent (others) of the total site value plus construction costs.

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Written by Selfbuild Live

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